left: Jun LEI right:Pak Kwan KAU
Kingsoft Corporation Limited announced that Mr. Pak Kwan KAU has resigned from the position of Chairman. Mr. KAU recommended Mr. Jun LEI as the new Chairman and the appointment was approved by the nomination committee of the Company and the Board with contemporaneous effect from Mr. KAU’s resignation on 5 July 2011. Furthermore, Mr. KAU intends to resign from the position of chief executive officer of the Company within six months from today. Mr. KAU and Mr. LEI will exercise their best endeavors to assist the Company to seek out a suitable candidate to succeed Mr. KAU before his resignation as chief executive officer takes effect.
As a gesture of continuing support and commitment to Kingsoft, Mr. LEI practices a voluntarily lock-up for all the shares of Kingsoft he holds – within the first year, he will not dispose any of his shares; and within the second and third years, he will not dispose over 50% of his shares, in any means, either directly or indirectly.
Mr. Pak Kwan KAU, Chief Executive Officer of Kingsoft, said, “Lei Jun is a top-tier veteran in the industry and has been with Kingsoft for many years. He has a thorough understanding about the Company as well as the market, and his contribution was significant to the achievement of Kingsoft. Led by Lei, Kingsoft will definitely continue to create brilliant achievement. Despite my resignation of the position of Chairman, I will still be dedicated to the development of Kingsoft, assisting Lei for the sustainable growth of the Company.”
Mr. Jun LEI, the newly appointed Chairman of Kingsoft, said, “I would like to express my gratitude to the Board and Mr. Kau. Kau has been my best counterpart for years. Succeeding the position as the Chairman, I will be devoted to promoting the sustainable development of Kingsoft, capturing the unprecedented opportunity for the development of cloud technology as well as the mobile Internet platform for innovation and expansion of business scale, and ultimately leading Kingsoft to the new era in the industry.”
About Mr. Jun Lei
Mr. Jun Lei is a non-executive director and co-founder of the Company, and was the Vice Chairman of the Board prior to his current appointment as Chairman.
Mr. Lei has been employed by the Company since 1992 and has played a key role in developing the operation of the Company and its subsidiaries and expanding the business operations of the Kingsoft Group. He had been the Chief Executive Officer of the Company since 1998, and under his leadership, the Company further expanded application software businesses into utilities software, Internet security software and online games. He also played a major role in transforming the Kingsoft Group from a traditional software company into an on demand software company which extensively utilizes the Internet. In December 2007, Mr. Lei relinquished his position as Chief Executive Officer, Chief Technology officer and President of the Company. In August 2008, Mr. Lei was re-designated from an executive director to a non-executive director. Mr. Lei is also a director of certain subsidiaries of the Group.
Mr. Lei was named as one of Beijing Top Ten Young Entrepreneurs in 2002, as one of the Ten Most Influential Leaders in China’s Games Industry at the inaugural China Game Industry Annual Conference in January 2008.